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Junk Social Science in the Medical Bankruptcy Debate
My GMU colleague Todd Zywicki and Gail Heriot (USD) have an op-ed in the Washington Times exposing Harvard Professors David Himmelstein and Elizabeth Warren’s study on medical debt and bankruptcy, presented to Congress earlier this week, as “one of the most misleading pieces of research ever placed before Congress — no small dishonor.” The punchline ... Junk Social Science in the Medical Bankruptcy Debate
Chicago, Post-Chicago, Post-Post-Chicago: On Using Shorthand Labels Responsibly
Over the past few weeks I’ve read at least two dozen papers, mostly by legal scholars (but some by economists) employing or critiquing economic analysis of law, that use the term “Chicago School,” in a critical and misleading way. Conventionally, use of this nomenclature comes along with a claim that “Chicago School” economics is code for a ... Chicago, Post-Chicago, Post-Post-Chicago: On Using Shorthand Labels Responsibly
The FTC Releases its Credit-Based Insurance Scores Report
Available here. Here are a few of the key findings of the study which examined the use of credit-based scores to determine automobile insurance rates: Scores effectively predict the number of claims consumers file and the total cost of those claims. Their use is likely to make the price of insurance better match the risk ... The FTC Releases its Credit-Based Insurance Scores Report
More Thoughts on Free Market Orthodoxy in Antitrust
In my last post I claimed that there is a no “free market economics orthodoxy” amongst antitrust economists or those working in the field of law and economics. In response to the post, an anonymous TOTM reader emails the following related, and probably more interesting, questions: “is there a free market orthodoxy amongst (1) legal ... More Thoughts on Free Market Orthodoxy in Antitrust
How Rough Do Dissenters From "Free Market Economics" Have It Anyway?
There are some good posts from several fine economists in the blogosphere responding to this NY Times article suggesting that the majority of economists are “free market” ideologues and those who dissent from laissez-faire dogma are sanctioned by their peers. All are excellent posts worth reading in their entirety and take on various problems with ... How Rough Do Dissenters From "Free Market Economics" Have It Anyway?
Newsflash! AAI supports merger review!
In shocking news, the American Antitrust Institute has come out with a white paper suggesting that the FTC’s challenge of the Whole Foods/Wild Oats merger is warranted (HT: Hanno): The FTC cites to numerous factors and questions that make a highly compelling case for looking closely at whether a Whole Foods/Wild Oats combination will tend substantially to ... Newsflash! AAI supports merger review!
Professor Trey Drury & Personal Liability for Directors
The Glom’s Junior Scholars Workshop, on Location, at TOTM.com: For the Conglomerate’s Annual Junior Scholars Workshop, I agreed to comment on a paper by Loyola University Professor Trey Drury that revisits director liability-limiting opt-in statutes such as DGCL Section 102(b)(7). The title of the paper is “What’s the Cost of a Free Pass? A Call ... Professor Trey Drury & Personal Liability for Directors
Evaluating Leegin
Thom’s excellent post covers most of the important points in Leegin and offers a fairly comprehensive critique of what I deemed to be a surprisingly weak dissent from Justice Breyer. As we’ve noted over and over here at TOTM, the death of Dr. Miles is clearly the right outcome judged based upon the underlying antitrust ... Evaluating Leegin
My Take on Credit Suisse . . .
is here, over at eCCP, and differs somewhat from Thom’s. The takeway excerpt is: Credit Suisse has important implications for antitrust practice. The decision’s effect is to narrow the scope of antitrust law and to invite efforts by regulated industries to narrow it still further. The court’s “clearly incompatible†standard is new and (though it ... My Take on Credit Suisse . . .
Dr. Miles (1911-2007)
So Dr. Miles is dead. May he rest in peace. No great surprises in the majority opinion in Leegin. Justice Kennedy, quite rightly, emphasized points we have asserted numerous times on this blog. Most notably: The per se rule should be reserved for practices that are always, or almost always, anticompetitive. The common law nature ... Dr. Miles (1911-2007)
Predictions on Leegin
Well we’re coming down to the wire, folks. The Supreme Court is wrapping up its term any day now, and no still no word on Leegin. Tom Goldstein from SCOTUSBLOG tells us the decision’s coming on Thursday. He also predicts that the author will be Justice Stevens, who has an antitrust background and hasn’t written ... Predictions on Leegin
Whole Foods: Where's the [premium, natural and organic] beef?
John Mackey posts a remarkable public response to the FTC, including the complete text and extended exegesis of one of the inflammatory hot docs that prompted the FTC’s action. But most amazing of all is this comment: The claims that the FTC makes in the above two paragraphs [from the FTC press release] are simply ... Whole Foods: Where's the [premium, natural and organic] beef?
